Wikipedia:WikiProject Trains/ICC valuations/Dayton and Union Railroad

Interstate Commerce Commission, Valuation Reports, Volume 42

Dayton and Union Rail Road

Location and General Description of Property

The railroad of the Dayton and Union Rail Road Company, herein called the Dayton and Union, is a single-track, standard-gage, steam railroad, located in Ohio and Indiana. The main line extends northwesterly from Dodson, Ohio, to Union City, Ind., 31.757 miles, with a disconnected section at Dayton, Ohio, 0.176 mile long, aggregating 31.933 miles of road. The company also owns 5.397 miles of yard tracks and sidings. Its road thus embraces 37.330 miles of all tracks owned and used, as classified by States in the trackage table in appendix 1. In addition the Dayton and Union has trackage rights over 16.27 miles of road of other carriers, most of which comprises a connecting link in the separated sections between Dayton and Dodson, Ohio.

The Dayton and Union is controlled by the Toledo and Cincinnati, which in turn is controlled by the Baltimore and Ohio. Its railroad connects at Dayton with and serves as an important feeder line to the Toledo-Cincinnati main line of the Baltimore and Ohio system.

Introductory

The Dayton and Union is a corporation of Ohio, having its principal office at Dayton, Ohio. There are no available accounting records of this company for the period January 1, 1872, to November 30, 1877. For that reason only partial information can be given from the accounts in connection with its financial dealings, corporate operations, or investments.

The Dayton and Union is controlled, through ownership of capital stock, by the Toledo and Cincinnati, which in turn is controlled by the Baltimore and Ohio. On the other hand, the records do not indicate that the company, controls any common-carrier corporation.

The property was operated from the date of its formation to December 31, 1917, by its own organization. Since January 1, 1918, it has been operated by the United States Railroad Administration.

Corporate History

The Dayton and Union was incorporated January 19, 1863, under the general laws of Ohio, for the purpose of acquiring the property, rights, and franchises of the Greenville & Miami Rail Road Company, which had been incorporated February 26, 1846, by special act of Ohio, and whose property had been sold under court order on October 30, 1862.

Development of Fixed Physical Property

The road owned, 31.933 miles, was acquired by the reorganization of the Greenville & Miami Rail Road Company which had constructed the property during the period of 1849 to 1852. The road consists of a main line extending from Dodson, Ohio, to Union City, Ind., 31.757 miles, and a disconnected section at Dayton, Ohio, 0.176 mile in length. In addition, the Dayton and Union also acquired through the reorganization of 1863 approximately 15 miles of road between Dodson and Miami Junction, Ohio, from which in the same year, it removed and sold the rail and track material.

Leased Railway Property

The Dayton and Union jointly used but did not own on December 31, 1917, certain property of other companies. The description of the property, the period and terms of use, and the rentals accrued and charged to income for the year ending on December 31, 1917, follow: Used with The Pittsburgh, Cincinnati. Chicago & St. Louis Railway Company: Tracks, 14.63 miles, together with all other facilities, between Dodson and Miami City Junction. Ohio, in perpetuity under agreement with the Dayton & Western Rail Road Company, dated January 14, 1863, stipulated payment fixed rental, $8,000.00. Tracks. 0.35 mile, from Miami City Junction to Depot Grounds, Dayton, Ohio, for indefinite period from November 13, 1868. Stipulated payment fixed rental, $2,000.00. Used with the Baltimore and Ohio, a lessee of the Toledo and Cincinnati, northbound main track 0.28 mile, from a point near the north end of Miami River Bridge at Dayton to Miami City Junction, Ohio, for indefinite period from January 31, 18G4, stipulated payment proportion of expenses on basis of trains handled, $690.41. Used with The Dayton Union Railway Company: Tracks, 0.07 mile, at Dayton, Ohio, for a term of 99 years renewable forever, from August 22, 1899, stipulated payment fixed monthly rental $250, $3,000.00.

Used with The Cleveland, Cincinnati, Chicago and St. Louis Railway Company: Tracks, 0.94 mile, and other facilities, at Union City, Ind.; for in definite period from December 1, 1912, stipulated payment fixed rental, $3,000.00.

Predecessor Company

Greenville & Miami Railroad

Introductory

This company was incorporated February 26, 1846, by special act of Ohio. It was organized May 6, 1848. The available accounting records for the period prior to December 31, 1855, are incomplete and of little value. For that reason only partial information can be given from the accounts regarding financial dealings, corporate operations, or investments. Certain information pertaining to the period first mentioned has been taken from sources other than the accounting records of the company.

The records reviewed do not indicate whether this company was controlled by any individual or corporation on January 19, 1863, the date of reorganization, nor, on the other hand, whether it then controlled any common-carrier corporation.

Although the property of The Greenville & Miami was conveyed to the Dayton and Union by deed dated February 3, 1863, the books of the former were closed as of November 30, 1862.

The railroad owned by this company was a single-track, standard-gage, steam railroad extending from Union City, Ind., to Dayton, Ohio, 46.65 miles, and was operated by its own organization from April 26, 1852, the date of its completion, to November 30, 1862.

Development of Fixed Physical Property

The 46.65 miles of road owned on date of reorganization was acquired by construction during the period 1849 to 1852.